Excellon Reports Third Quarter 2017 Financial Results And Updates To Board And Management

http://www.excellonresources.com/news/details/index.php?content_id=176

Toronto, Ontario – November 2, 2017 – Excellon Resources Inc. (TSX:EXN and EXN.WT; OTC:EXLLF) (“Excellon” or the “Company”) is pleased to report financial results for the three and nine-month periods ended September 30, 2017.

Q3 2017 Financial and Operational Highlights (compared to Q3 2016)

  • Revenue increased 77% to $7.1 million (Q3 2016 – $4.0 million)
  • Production increased 96% to 500,763 silver equivalent (“AgEq”) ounces (Q3 2016 – 255,760 AgEq ounces)
  • Sales increased 95% to 443,921 AgEq ounces payable (Q3 2016 – 228,172 AgEq ounces payable)
  • Mine operating earnings of $1.5 million (Q3 2016 – loss of $0.1 million)
  • Production cost per tonne reduced by 30% to $208 (Q3 2016 – $298)
  • Total cash cost per silver ounce payable reduced by 80% to $2.46 (Q3 2016 – $17.95)
  • Adjusted all-in sustaining cost per Ag oz payable (“AISC”) reduced by 66% to $11.62 (Q3 2016 – $33.92), excluding the one-time sustaining capital expenditures associated with the Optimization Plan, with no adjustment in the current quarter
  • Adjusted net loss of $0.4 million or $0.00/share (Q3 2016 – adjusted net loss of $1.0 million or $0.01/share), excluding non-cash financing loss associated with outstanding convertible debentures (the “Debentures”) issued in November 2015
  • Net working capital totaled $4.9 million at September 30, 2017 (December 31, 2016 – $8.6 million)
  • Upsized C$13.25 million bought deal financing to accelerate exploration on the Platosa Property and Miguel Auza Project, announced on October 20, 2017
  • Appointment of Jacques McMullen, P.Eng. to the Board of Directors, with the retirement of Ned Goodman, and appointment of Nisha Hasan to Vice President Investor Relations

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